Silverstein talks 2 WTC, languishing luxury market

Anchin Construction and Development Forum speaker, Silverstein Properties Chairman Larry Silverstein, discusses the state of New York real estate and construction.

During the Anchin Construction and Development Forum, Silverstein touched on other design decisions made over his career. He said that he has learned from many mistakes, including the original 7 World Trade Center, which ended up "a very pedestrian building," due to the developer’s desire to save on construction costs.

"It was devoid of architectural quality, and amassed to a bulk of heaviness that was not what I really aspired to accomplish here, but I was intent on building as inexpensive as I could, and so that’s what we did," he said. "But I learned as a result of that experience that it makes all the difference in the world to do first-class architecture because it will make all the difference in the world to prospective users."